Capitol Bancorp Completes Divestiture of Southern Arizona Community Bank

Capitol Bancorp Limited CBC announced today that it has completed the sale of Southern Arizona Community Bank to Grandpoint Capital, Inc. Capitol Bancorp's Chairman and CEO Joseph D. Reid said, "This sale is a significant step in our widely publicized strategic divestitures initiative. We have completed 13 transactions since announcing our initiative, which has enabled Capitol to reallocate equity capital among our affiliates."